Weekly Market Highlights
- Wheat futures prices are lower since our last report, and basis premium prices are also lower on the move to December futures.
- Wheat prices are in fact the lowest we’ve seen in more than a decade.
- U.S. wheat harvests are wrapping up; U.S.D.A. reports indicated spring wheat was 81% complete August 28
- Producers and elevators will want to see better prices before selling significant quantities of wheat. Seasonal price fluctuations are to be expected as large corn and soybean crops are harvested, taking attention away from marketing wheat and stressing rail capacity.
- We expect wheat prices to stay near their current levels short term, watching to see how far corn prices fall through harvest.
Facts on Flour
Soft Red Winter Wheat is grown in the eastern third of the United States. SRW is high yielding wheat, but
relatively low in protein, usually about 10%. SRW is used for cakes, pastries, flat breads, crackers and snack foods.
This fall-seeded wheat comprises about fourteen percent of U.S. wheat exports
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